Kenneth Cole Productions and G-III Apparel Group, Ltd. have reached an agreement to expand their relationship for outerwear. G-III, the licensee for Kenneth Cole New York and Reaction Kenneth Cole women’s outerwear since 1995, will now also manufacture, market, and distribute men’s outerwear for the Kenneth Cole New York and Reaction labels. The dual-gender license is for a term of four years with one four-year renewal term, subject to the satisfaction of certain performance conditions. Commencing with the Fall 2005 collection, G-III will be replacing Gordon & Ferguson of Delaware, Inc., the existing men’s outerwear licensee, whose agreement is terminating by mutual consent.
Chairman and Chief Executive Officer Kenneth Cole said, “We look forward to building on our strong relationship with G-III. Based on the excellent performance of women’s outerwear, we are pleased to extend the term of that license. In addition, we believe that G-III’s understanding of our brands and their leadership in the outerwear industry will serve the men’s outerwear business as well. With this partnership, we are confident that our outerwear business will continue to grow stronger.”
Morris Goldfarb, G-III’s Chief Executive Officer, said, “We are very excited about expanding our business with Kenneth Cole Productions. Their women’s outerwear license has long been one of the most important lines in our mix of business. We believe that we have an opportunity to assume what is already a substantial men’s business and take it to the next level in terms of volume and retail performance.”
